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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
May 15, 2022
Page
16
The Week In Review reports that inflation cooled in April with consumer prices up 8.3 percent year over year, down from 8.5 percent in March, and a 0.3 percent monthly rise. Producer prices advanced 0.5 percent from March, while food costs climbed 1.5 percent and new car prices rose 0.8 percent. Shipping and warehousing costs jumped 3.6 percent.
President Biden announced 20 internet providers will discount service for low income households under the Affordable Connectivity Program. The $30 monthly subsidy, boosted by tribal rates, could cover most of the cost for tens of millions, with about 40 percent of Americans eligible based on family income.
Stocks fell across the board as large tech names dragged the market, with the S&P 500 down 2.4 percent, the Dow 2.1 percent, and the Nasdaq more than 20 percent below its November peak. Inflation ran hotter than expected, boosting core prices, prompting the Fed to plan larger rate hikes, raising recession worries.
iMoneyNet Inc provides an industry ranking update detailing top stock gainers and decliners for the week. The report lists leading sectors and notable performance shifts, offering insight into market trends and relative strength among industries.
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